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The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.
MetroList, which serves Northern California, recently partnered with real estate data provider StreetWire on a home insurance product called HomeValue Lock, which gives homeowners protection in the event they have to sell their house at a loss due to an unexpected need to move.
Retirement planning has shifted to longevity planning, making home equity access essential for financial security. Senior-friendly financial products, like those from Finance of America, allow seniors to age in place while leveraging their homevalue to cover retirement healthcare, daily expenses, and more.
Sales volume has remained elevated compared to last year since about mid-June, homevalues are growing more quickly than they have in 15 years and homes are typically selling a full three weeks faster than a year ago. million homes sold – 21.8% 2020 has been a remarkably strong year for the housing market.
Known for its red brick historic district, farmers market, and community events like the Flowertown Festival, Summerville is also one of just three suburbs in the top 10 with an average homevalue under $400,000 (the other two being Conway, South Carolina, and Davenport, Florida). year-over-year between August 2023 and 2024.
Many people are moving because they have no other option after a significant life event, such as a divorce or job shift, according to Redfin agents. Homeowners hate to give up their 2-3% mortgage rate, but life happens and people have to move. The lock-in impact is lessening for a few other reasons.
Some popular real estate newsletter content includes: Market updates Featured listings Industry news Local news Community events Agent profiles Investment opportunities No matter what content you choose to include, your real estate newsletter should serve as a meaningful touchpoint that continuously builds your client relationships.
“It is hard to interpret this series of events as anything other than a coordinated effort by local officials over decades to displace Black residents.” According to UCLA, 57% of the Black homeowners who lost homes there were older than 65. The average homevalue in Altadena is $1.3 Thats up 3.5%
Here’s how to get an instant offer on your home. The first option, a lender provides funds that equal the difference between up to 80% of the buyer’s homevalue and their current loan balance. A bridge loan can also be a good way to finance a new house, in the event you have to relocate for a job.
Most Canadians prefer to age in their homes. industry practitioners at an industry event in late 2019. In a 30-second TV spot, Mansbridge takes a stage to answer questions from an audience resembling a press pool. In a twist, the audience is made up of various copies of himself, reacting and responding to his own words.
May 2024 Market Report Highlights Homevalues climbed month over month in all 50 of the nation’s largest metro areas in May. Homevalues are up from year-ago levels in 46 of the 50 largest metro areas. Homevalues are down from year-ago levels in three major metro areas. year-over-year in April to 3.9%
Script 3: Engage with expired listings Hi [Name], I saw your home is no longer on the market. Script 4: Market update for sellers Hi [Name], I’m hosting a free event on the latest market trends for sellers. Script 5: Neighborhoods in demand Hi [Name], there’s high demand for homes like yours in [Neighborhood].
By using these insights into triggers such as lien priority status, collateral valuation analysis, borrower credit analysis, hazard profiling and event risk, compliance managers can act quickly to mitigate losses and minimize risk.
Common real estate farming ideas include direct outreach via mail, email or direct mailers, but you can also host neighborhood social events, sponsor seasonal events and provide helpful real estate information resources to your community.
After the series wraps, join us on February 8 for the HW+ Virtual 2022 Forecast Event. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business.
The challenges that higher costs place on carriers, regulators , lenders and consumers has been well documented this year, and the acceleration of extreme weather events has only made things worse. And it raises questions about how more of these events could impact the mortgage industry.
Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and home sellers while also playing an expanding role as personal advisors. The Texas capital saw the largest rise in median list prices for homes among the 50 largest U.S.
events for the most recent five years, and three times the average of 7.1 events for the past 40 years. But what effect does climate change have on real estate—or, specifically, on a home’s property value? This is nearly 150% more than the average of 16.2 A Closer Look: Otay Ranch.
We have expanded our team member training to [include talking to customers] about their homevalue and equity if the customer truly can no longer afford the home and none of the retention options are available or appealing to the customer. What key trends do you anticipate will shape the landscape?
Homeowners and renters may not have felt the full impact of climate-related disasters since, oftentimes, they do not end up directly paying for renovations or repairs necessitated by an adverse climate event, Fairweather said. According to a survey of roughly 2,000 U.S.
Automated valuation model (AVM): Boosts client consultations by using its proprietary algorithms to accurately estimate homevalues. Predictive analytics involves using statistical data and applying algorithms to predict the future outcomes of future events.
Prior reporting does not specify if the home was indeed sold at the time the final borrower died, nor is it specified if the reverse mortgage in question is FHA-sponsored or a proprietary alternative.
Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the predictions for this year, along with a roundtable discussion on how these insights apply to your business. The event is exclusively for HW+ members , and you can go here to register.
Bringing together some of the top economists and researchers in housing, this event will provide an in-depth look at their latest insights on the housing market, along with a roundtable discussion on how this information applies to your business. To register for the HW+ event, go here.
In particular, the events zeroed in on patterns of discrimination and bias for minority borrowers and homeowners. Each event made plain the current open questions that need answers and hopefully convinced most that there is a problem worth fixing. The chief question of them all is whether there is a solution.
It ensures my clients and my team can get a hold of me in the event of an urgent situation. Omar Ennabe: The obvious trends I follow would be the ones related to our business, such as housing trends, homevalues and interest rates. Omar Ennabe: My smartphone. HousingWire: What are 2-3 trends that you’re closely following?
Homevalue inequalities are the result of appraisal practices that elevate White spaces as the most valuable,” the report said. Korver-Glenn and Howell said that dating back to 2013, homes in white neighborhoods have been appraised as being worth $371,000 more, on average, than homes in white neighborhoods.
Augusta home sales this year varied due to events that happen every year such as the start of school leading to fewer sales, Kelly said. Still, Augusta home prices are not immune to national trends. The typical homevalue in September 2021 is $147,000, according to Zillow, up 20% from August 2020.
In recent months, the canary has been chirping with far less exuberance as inflation (now above 7% annualized ), rising mortg a ge rates , declining homevalues and the potential of faster-rising unemployment spurred on by a potential recession in the coming year all grip the FHA sector. So, that’s good news.”.
Handwrytten also offers dozens of templates tailor-made for holidays and unique life events, such as congratulating your client on their new baby. To personalize your mailers even more, you can add gift cards for brands like Home Depot and even packets of coffee from Starbucks to the envelopes. each and unmailed postcards are $0.79
Home equity is near record highs, and the general economy and financial markets are surprisingly strong. Homes are selling faster than they did before the pandemic. Homevalues have increased 2.6% The same survey found just 54% of sellers then bought a home, the lowest share since 2018 and down from 70% last year.
If you’re known in your market as the expert who successfully sells properties between $1 to $3 million, how do you start getting clients looking for homesvalued at $10 million+? How do you convince the sellers of $15 million homes to work with you? The top luxury market requires top-quality service.
Many are selling because a major life event like a job change or divorce has given them no other choice. Another reason the share of locked-in homeowners has dipped is that everyone who purchased a home in the last year was entering the market at a time when the average mortgage rate was above 6%.
Even though sellers’ median valuations in each of these housing markets grew by an astounding 40% or more over the previous year, only one market, Panama City, Florida, saw a year-over-year increase in the number of homes newly listed for sale.
As long as the buyer complies with these ongoing loan obligations, a HECM for Purchase loan doesn’t have to be repaid until a maturity event, such as when the home is sold or is no longer considered their primary residence. The information being displayed is for illustrative purposes only.
With every home sale, Offrs’ algorithm improves its understanding of who will likely sell their home next. After more than a decade, it can predict which homes will go on the market with an accuracy of more than 70%!
” The post “Post-COVID-19 HomeValues & Valuation” panel session appeared first on ClearCapital.com, Inc. To learn more about what is on the horizon for modernizing the appraisal process, download our white paper “ Why We’re Heading Into a Golden Age for Appraisal Modernization.”
The process should allow the loan to reach the 75% threshold through a combination of principal paydown and homevalue appreciation (subject to an acceptable third-party valuation). FHA borrowers would no longer be trapped paying excessive MIPs in the event GSE refinances no longer make economic sense where interest rates increase.
Miami: Retiring in style with sun, surf and sophistication As the second-best place to retire on WalletHub’s list, Miami is a bit pricier, with an average homevalue of $587,252. There’s also plenty to do in Tampa, with numerous options for boating, sporting events, entrainment and fine dining. to retire by Realtor.com®.
We'll explore a plethora of resources available to homeowners, ranging from online platforms to in-person events, designed to empower and guide DIY enthusiasts towards maximizing their home's value. Local libraries often host workshops, lectures, and book clubs focused on home improvement topics.
Who would have predicted the events of 2020-2021? You can listen here or on my podcast at HomeValue Stories. Since we’re on the topic of things rising, this week I leave you with a fun little experiment you can try at home using yeast and balloons. So, there is a cap on what buyers are willing to spend.
When a home that a veteran is considering purchasing is having trouble reaching the purchase price during the appraisal process , buyers and lenders can ask the VA appraiser to consider adjusting the valuation before making a final determination.
The specter of moisture damage should be a top concern, especially when selling a house, for it can negatively affect homevalues. Otherwise, their canopies can cause moisture issues by shedding leaves that pile and decay on the roof, bruising asphalt shingles during windy events and destroying your property when they break and fall.
Buying and selling property is a big event for those gaining the asset and for those making money on the deal. An array of factors influences the homevalue, mortgage interest rate, fees and timing of these exchanges. Yet it is another day at the office for realtors, lenders, attorneys and title agencies.
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